Data from Glassnode shows demand on the Bitcoin network has been gradually recovering recently, after facing months of continuous decline.
Total Amount Of Coins In Bitcoin Mempool Has Been On The Rise During Past Month
According to the latest weekly report from Glassnode, the BTC network has been observing a small, but sustained surge in activity recently.
The “Mempool” is a (virtual) place where Bitcoin transactions that are yet to be confirmed stand still, waiting to be processed by the miners.
When the Mempool has a large size, it means there are many pending transactions on the network right now. This can hint that the chain is viewing high activity currently.
An indicator from Glassnode is the “Mempool total amount of coins,” which measures how much BTC is inside the Mempool at the moment.
Rises in this metric can suggest there are larger transactions and/or a higher number of them taking…
